Mutual of America Capital Management LLC Lowers Stock Position in First Commonwealth Financial Co. (NYSE:FCF)

Mutual of America Capital Management LLC lessened its holdings in First Commonwealth Financial Co. (NYSE:FCF) by 8.4% in the third quarter, Holdings Channel reports. The firm owned 15,348 shares of the bank’s stock after selling 1,414 shares during the period. Mutual of America Capital Management LLC’s holdings in First Commonwealth Financial were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in First Commonwealth Financial by 3.5% during the second quarter. Dimensional Fund Advisors LP now owns 6,987,929 shares of the bank’s stock worth $96,503,000 after purchasing an additional 233,955 shares during the period. American Century Companies Inc. increased its position in shares of First Commonwealth Financial by 29.9% in the second quarter. American Century Companies Inc. now owns 1,673,201 shares of the bank’s stock valued at $23,107,000 after acquiring an additional 384,892 shares during the period. Bank of New York Mellon Corp grew its position in shares of First Commonwealth Financial by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,209,436 shares of the bank’s stock worth $16,702,000 after buying an additional 33,759 shares during the period. Principal Financial Group Inc. boosted its stake in First Commonwealth Financial by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 538,964 shares of the bank’s stock valued at $9,243,000 after purchasing an additional 36,001 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in First Commonwealth Financial by 0.6% in the 2nd quarter. Federated Hermes Inc. now owns 291,757 shares of the bank’s stock worth $4,029,000 after purchasing an additional 1,850 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FCF shares. StockNews.com raised First Commonwealth Financial from a “sell” rating to a “hold” rating in a report on Wednesday. Piper Sandler dropped their price objective on shares of First Commonwealth Financial from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, First Commonwealth Financial presently has a consensus rating of “Hold” and a consensus target price of $17.30.

Insider Buying and Selling at First Commonwealth Financial

In other news, EVP Michael P. Mccuen acquired 2,919 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $16.99 per share, for a total transaction of $49,593.81. Following the completion of the transaction, the executive vice president now owns 57,623 shares in the company, valued at approximately $979,014.77. The trade was a 5.34 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.97% of the stock is owned by corporate insiders.

First Commonwealth Financial Trading Down 0.8 %

Shares of NYSE:FCF opened at $18.98 on Friday. First Commonwealth Financial Co. has a 12-month low of $12.41 and a 12-month high of $19.96. The company has a market capitalization of $1.93 billion, a PE ratio of 12.82 and a beta of 0.83. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $17.47 and its 200-day simple moving average is $16.00.

First Commonwealth Financial (NYSE:FCF) last announced its earnings results on Tuesday, October 29th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.05). The business had revenue of $121.21 million for the quarter, compared to analysts’ expectations of $119.47 million. First Commonwealth Financial had a return on equity of 11.19% and a net margin of 21.87%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 earnings per share. As a group, equities research analysts predict that First Commonwealth Financial Co. will post 1.4 earnings per share for the current fiscal year.

First Commonwealth Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.52 annualized dividend and a yield of 2.74%. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 35.14%.

First Commonwealth Financial Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (atm) services, as well as internet, mobile, and telephone banking services.